The following table provides a historical chronology of the DFS Group:
1999 – Deloitte establishes “Deloitte Financial Services – a private client advisory and asset consulting service line
2002 – Deloitte sells business unit; and Principal Advisers ultimately purchase the business and rename it DFS Advisory Services (DFSAS)
2002-2007 – DFSAS continues to focus on Manager Selection within a Strategic Asset Allocation (SAA) framework and a valuation based Tactical Asset Allocation (TAA) overlay as its core investment offering
2007-2008 – Manager Selection within SAA/TAA framework proves to be insufficient (IT bubble: 2000-2002; GFC: 2007-2009) and clients demand greater focus on risk management to reduce the uncertainty of portfolio outcomes and associated anxiety during market turbulence.
Incumbent “Wrap” Platforms do not possess functionality to efficiently re-balance portfolios, which is central requirement for our Dynamic Risk Management approach.
DFSAS searches and adopts an Investment Administration Platform with the required global portfolio management functionality.
2009-2011 – DFSAS embarks on building a risk based asset allocation process to better stabilise portfolio risk. Internal and external resources are used to develop the process (engineers, consultants, actuaries). Specialised software is applied to improve the quality of risk modelling.
DFSAS continues to develop its Manager Selection research capabilities, which leads to the construction of 12 Asset Class Models that are subject to regular reviews and integrated portfolio reporting.
Jan 2012 – Conservative; Balanced & High Growth portfolios commence running live under Dynamic Risk Management process
Mar 2012 – DFS Portfolio Solutions established to separate funds management and advisory roles to provide further transparency to clients
2013 – Moderately Conservative and Growth Risk Profile Models launched to complement existing Models
DFS Advisory Services commence transitioning clients to the Dynamically Risk Managed portfolios
DFS Portfolio Solutions opens it portfolios to other IFAs and Accounting firms
Suite of Risk Profile Models with passive investments built to cater for IFAs that prefer a low-cost option
May 2016 – DFSPS offers integrated Dynamic Risk Management solution to accommodate existing IFA Direct Equity Models
April 2017 – DFSPS Research Reports, which includes:
- Decomposition or portfolio risk for each portfolio
- Valuation metrics for equity based asset classes
- Assessment of macroeconomic risks
- Manager screening